|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Martin O'Malley, Governor
|
|
|
|
|
|
Ch. 606
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(IV) THE MARYLAND DEPARTMENT OF NATURAL
RESOURCES; OR
(V) A LAND TRUST.
(3) "LAND TRUST" MEANS AN ORGANIZATION THAT:
(I) IS A QUALIFIED ORGANIZATION UNDER § 170(H)(3) OF
THE INTERNAL REVENUE CODE AND REGULATIONS ADOPTED UNDER THAT
SECTION; AND
(II) HAS EXECUTED A COOPERATIVE AGREEMENT WITH THE
MARYLAND ENVIRONMENTAL TRUST.
(B) (1) A CONTRACT FOR THIS SECTION APPLIES TO THE SALE OF
PROPERTY ENCUMBERED BY A CONSERVATION EASEMENT IS NOT
(2) THIS SECTION DOES NOT APPLY TO THE SALE OF PROPERTY
IN AN ACTION TO FORECLOSE A MORTGAGE OR DEED OF TRUST.
(C) A PURCHASER HAS THE RIGHT TO RESCIND A CONTRACT FOR THE
SALE OF PROPERTY IF:
(1) THE PURCHASER IS GIVEN THE SELLER FAILS TO GIVE THE
PURCHASER, ON OR BEFORE ENTERING INTO THE CONTRACT FOR THE SALE OF
THE PROPERTY, OR WITHIN 20 CALENDAR DAYS AFTER ENTERING INTO THE
CONTRACT, A COPY OF ALL CONSERVATION EASEMENTS ENCUMBERING THE
PROPERTY; AND
(2) THE CONTRACT OF SALE CONTAINS FAILS TO CONTAIN A
STATEMENT IN CONSPICUOUS TYPE, IN A FORM SUBSTANTIALLY THE SAME AS
THE FOLLOWING:
"THIS PROPERTY IS ENCUMBERED BY ONE OR MORE
CONSERVATION EASEMENTS OR OTHER RESTRICTIONS LIMITING OR AFFECTING
USES OF THE PROPERTY AND OWNED BY THE MARYLAND ENVIRONMENTAL
TRUST, THE MARYLAND HISTORICAL TRUST, THE MARYLAND AGRICULTURAL
LAND PRESERVATION FOUNDATION, THE MARYLAND DEPARTMENT OF
NATURAL RESOURCES, OR A LAND TRUST (THE "CONSERVATION EASEMENTS").
MARYLAND LAW REQUIRES THAT THE SELLER DELIVER TO THE BUYER
PURCHASER COPIES OF ALL CONSERVATION EASEMENTS ON OR BEFORE THE
DAY THE CONTRACT IS ENTERED INTO, OR WITHIN 20 CALENDAR DAYS AFTER
|
|
|
|
|
|
|
|
|
|
- 3875 -
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
